mm2 Asia acquires 3 more cinemas

Mega Cineplex Prai is one of the three cinemas to be acquired by mm2 Asia.

25 Aug – Following its Cathay Malaysia acquisition, mm2 Asia Ltd. is set to acquire Mega Cinemas Management Sdn Bhd's three Mega Cineplex cinemas next.

It was announced on mm2 Entertainment Facebook pages that the Singapore company will acquire the three cinemas for RM22 million.

There are three Mega Cineplex locations in Malaysia, all located in the northern part of the country.

The 6-screen Mega Cineplex Prai, established in 2004, has a seating capacity of 1420. The 3-screen Mega Cineplex Langkawi, which is the only cinema on Langkawi island, was established in 2011 and has a seating capacity of 536. Lastly, the 4-screen Mega Cineplex Bertam, established in 2013, has a seating capacity of 756.

Previously, mm2 Asia has entered into a sale and purchase agreement (SPA) with Cathay Cineplexes Sdn Bhd to acquire its two business operations, Cathay Cineplex Damansara and Cathay Cineplex City Square, for RM40 million by 30 September 2015.

Once all acquisition is completed, mm2 Asia will have 5 cinemas with a combined total of 43 screens in Malaysia.

(Photo source: Mega Cineplex)

Cinema Online, 25 August 2015

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